S&P 500 · Bitcoin · CryptoSlate
Why a weekend break below $62,500 could unleash a Bitcoin selling wave toward $58,500
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Bitcoin trades near $62,900 heading into the weekend, having touched an intraday low of $62,538 on Aug. 14.
Key facts
- Bitfinex puts roughly 1.79 million BTC, about 8.93% of circulating supply, inside the $62,000 to $65,000 band at cost basis
- Bitcoin trades near $62,900 heading into the weekend, having touched an intraday low of $62,538 on Aug. 14
- Bitfinex found Bitcoin tested the $65,000 to $65,500 region six times between Aug. 5 and Aug. 10 without producing a single daily close above $65,000
- Wallets holding more than 1,000 BTC reached a 2026 high of 3.06 million BTC on Aug
Summary
01 Bitcoin is trading near $62,900 after testing $62,538, leaving its five-week $62,000-$66,000 range under pressure. 02 About 1.79 million BTC sits in this band at cost basis, turning it into a break-even battleground. 03 Weekend trading lacks ETF demand, so a sustained $62,500 break could send price toward $60,000 or lower. Bitfinex found Bitcoin tested the $65,000 to $65,500 region six times between Aug. 5 and Aug. 10 without producing a single daily close above $65,000.